The Institute of Chartered Accountants of Sri Lanka is a professional accountancy body in Sri Lanka. The Institute is established by Act of Parliament, No. 23 of 1959 as the sole organisation in Sri Lanka with the right to award the Chartered Accountant designation. The Institute is responsible for setting Accounting Standards in Sri Lanka.
In September 2009, the Institute of Chartered Accountants of Sri Lanka and The National Institute of Accountants (NIA) of Australia signed a mutual recognition agreement to mutually recognise the professionalism and standing of their members. This agreement grants members of both institutes the eligibility of admission to the other body, paving the way for Australian accountants to practise in Sri Lanka or vice-versa. ICASL is also a member of Asia Oceania Tax Consultants' Association (AOTCA).
However, this MRA is still not implemented by ICASL now (14 April 2011). This Institute did not reply to several email and letter requests.
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